Medalist Diversified REIT (MDRR) Stock Gains On Dividend News

Medalist Diversified REIT MDRR Stock News

Medalist Diversified REIT Inc (NASDAQ: MDRR) is making a dramatic run for the top in the market this morning, and for good reason. The company declared a dividend, leading to excitement among investors. Here’s what’s going on:

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MDRR Stock Climbs On Dividend Declaration

In a press release issued early this morning, Medalist Diversified REIT announced that its Board of Directors has authorized and the Company has declared a dividend for the third quart of 2020. The dividend will be paid on its 8% Series A Cumulative Redeemable Preferred Stock. MDRR said that the dividend paid will be in the amount of $0.50 per share.

In the release, MDRR said that the Series A Dividend will be payable in cash. The dividend will be paid on October 26,2020 to holders of record of Series A Preferred Stock as of October 23, 3020.

MDRR is a real estate investment trust. The trust specializes in acquiring, owning and managing value-add commercial real estate in the Southeast region of the United States.

This Is Exciting News

While many companies are talking about cost cutting in order to stay alive in the face of COVID-19, especially in the real estate sector, Medalist Diversified REIT is doing the oposite. The company is announcing a dividend. That’s good news for two big reasons:

  1. Investors Love Getting Paid. Dividends offer a cash payment on top of any growth that may happen in the valuation of the stock. Investors love getting paid. So, dividend declarations will generally lead to excitement among investors.
  2. Financial Stability. A company doesn’t pay dividends unless they are financially stable enough to do so and continue to grow. Even in the face of the COVID-19 pandemic, MDRR is strong enough financially to declare a dividend. That’s impressive.

All in all MDRR stock is worth paying close attention to.

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